Hewlett-Packard Co.(HPQ) is in an downtrend but momentum is showing some life

(23-May-2008) (23-May-2008) Hewlett-Packard Co.(HPQ) closed at 46.25, down -0.81 or -1.72 % today. Based on our analysis, Hewlett-Packard Co.(HPQ) is in an downtrend but momentum is showing some life.

The closing price of Hewlett-Packard Co.(HPQ) is below its 50 day moving average of 46.96 (Designated by blue line). This indicates that the trend is down. The MACD histogram(Gray bars on the bottom) above the signal line(Dark Red Line) tells us that Hewlett-Packard Co.(HPQ) is gaining momentum. An downtrend with sustained rising momentum could be early sign of reversal. The MACD histogram crossed above the signal line on 30-May-2008, about 3 trading days ago.